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20 Jul 2019 10:45
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  •   Home > News > Rural

    Fonterra's bosses are wrestling with a major debt issue, as they look to shed more overseas interests

    Fonterra's bosses are wrestling with a major debt issue, as they look to shed more overseas interests

    The dairy giant is trying to wipe 800 million dollars of debt off its plate.

    Fonterra's CEO Miles Hurrell says he's reviewing the company's joint venture with Nestle in Brazil, and rethinking two farm hubs in China.

    Dairy industry analyst and economist Peter Fraser says the company owes about as much as its worth.

    He says it's a 7.4 billion dollar company, that's got 7.3 billion dollars of debt.

    © 2019 Newstalk ZB, NZCity

     Other Rural News
     18 Jul: A big payday's coming for farmers in New Zealand's second-biggest dairy co-op
     18 Jul: Fonterra's being urged to use bio-waste to dry milk powder
     04 Jul: Fonterra shares are falling fast
     02 Jul: An honour for the woman whose research led to the discovery of Mycoplasma bovis
     07 Jun: The Agricultural Minister is defending changes to the laws around the dairy industry
     07 Jun: Farmers are asking the government for help
     06 Jun: Fonterra says Government's tweaks to Dairy Industry Restructuring Act are good but don't go far enough
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